What is a specific statement from a seller outlining expectations and provisions called?

The correct term for a specific statement from a seller outlining expectations and provisions is termed an offer. In the context of sales and professional selling, an offer is a formal proposal made by a seller to a potential buyer, indicating the terms and conditions under which the seller is willing to engage in a transaction. It serves as an invitation to the buyer to accept these terms, which may include pricing, timelines, and any other relevant details that define how the transaction will occur.

Understanding this distinction is important in selling practices because an offer signifies readiness to enter into a contract if accepted by the buyer. While a proposal may contain similar contents, it is typically more informal and can serve as an initial discussion point rather than a binding statement. A contract, on the other hand, is a legally enforceable agreement that is reached once the offer is accepted, and an agreement is a broader term that encompasses all forms of understandings that may arise in a business context. Thus, in this scenario, the specific term that accurately reflects the seller's outlined expectations is an offer.